St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-12
The COMMERCIAL RECORD.
On the Chicago Beard Of Trade Yesier-
day korning III the Ccu6stioIs
Favored the Bull Side.
Tie Cables We're Threatening and There
We're Reports CT Drouth IL The
West and Northwest.
The Clique Again Successfully Mixed
The Crowd, Realizing q Clean
Cent BuShel Profit.
Transactions in The Financial CT relies
OF Now York's Wall Street,
The General Market.


Slietllt 10 inc GL''pt.
CHICAGO, May ia bull clique Just now
is a Superllujty in the wheat pit. The price
apparently would get along just as well with
out a. with lis support. The bull crow d,
operating through George G. Walker Il Co.,
sold out 100000 bushels Of wheat AT Soc.
and their brokers' have apparently believed
up 10 this morning that the sale was clever
one. The advauce since last night pats Il
different phase on The transaction, and shows
that ;hiS advance III wheat may after all be
~ soo,. for bulls AZ bears. Dune wheat sold
This morning nj S6aSc. The clique has,
5 far as could be seen, moth
ing 10 do with the advance
The continued drought in Kansas and Ne
blasEa alid he report that damage was
benS done IN the dry section by the chinch
bugs. caused the shorts ana The bulls 10 throw
OF all restraint. The curb for June was
SGlSc, and
WITH SCARCELY HALT
the price, after the opening, advanced to
Su5S- while corn advanced to 40SSc for the
same muI,h. If the clique did anything in
wheat daring the height of the excitement
il sod sparingly. Ii certainly did nothing
Il urge The advance. An evidence of the in
tueuce 1T work to bull the market was
the narrowing of the spread between
Jane audjuly down from lac at one mo-
IleHt yesterday 10 l2c IT, day, when June sold
ii, ~Gi2r ana July >oll ri SIC. 1t was the Cos
brokers III soc. But during the morning the
market 80 rarely touched that point that the
character Il The orders II that figure could
not be judged. There were numerous dis
patches or The iluor from Kansas and No
hra>ka telling of the drought there and
others telling Cf chiHch bugs Surrounding
markets were zap apparently OF their own vo
lLiun. The clcarauCeS at the Sca6Oard were
large 203. S34 bushels AT New York alone.
The export business was very large. There
ltt4i.f fllrIN DDu; "a! remarked worked
at New YORK up to l o'clock and 300, 600
bushels were worked at Duluth and 23O.5 800
bushels by Chicago house, William Dunn
Il Go. just al the close there was little
unloading hy sculping traders and June,
which had been very steady al S6lic, sold to
Soc. hat. however, seemed to be the stop
ping point. Some houses i'll the afternoon
had
REPORTS OF RAINS
in the Southwest and sold wheat on them
Walker X Co. : selling was said 10 be on this
kind of news. Lat while the reports of rain
were coming in from one or TWO sections
west, the reports Of exports and of new eX-
port business kept coming from the east
until some authorities said that not less than
100000 bushels Of wheat had been taken at
New York. Corn was considerably more
active and at one time considerably stronger.
Hutchinson was Il large BUYER. and among the
other gossip atlOat was the rImor that John
Cudahy had IL good deal of corn low down.
These rumors all tend 10 make the pit uneasy
and there was considerable covering from
40c up 10 lGSSc f1r june. Robert Warren IL
Co., who are Supposed to be more largely in
tereSted in the long" side than any other
brokers, We're buyers of Il moderate scale and
were watching the lit closely.
THE ROUTINE REPORT.
CHICAGO. May ll.-.ill the conditions this
morning seemed To favor the bull side of
the market. Besides the cables there was Il
report IF drought il The West and North
west, and the effect Of yesterdays govern:
ment crrop report, which showed Il material
cline III the condition Of the crop, had not
yet worn away. June wheat opened at
S6Ssc and advanced until it reached S65sc.
Al this point the clique of the long crowd
began selling wheat, and June dropped back
TO S0lSc III less than an hour after the open
ing. The clique had again successfully
MIXED the crowd and marketed lot of
wheat, which cost them $50 on Monday, at
Suisse down to Soc, at which point they
stopped selling. After prices got down to
lively little trading was done. Corn did not
follow the same course as wheat. The
shorts III that produce are very cautious
and inclined To cover. June held steady at
40Lc. the opening price, all the time wheat
was going down, and there were numerous
buyers at that figure. June ribs were weak
early. 1t went down from ST.42l2 to S7.35,
but later recovered and advanced to S7.45.
Lard was dull and quiet.
THE QUOTATIONS..
The leading futures ranged us follows:
Whcat-No. . May, S45Sc. closing at S4ssc !;
June, S6ssc. closing at SEC; July, S5ssc,
closing at S5l2c; August, Sic, closing
at Sic. Corn-NO. 2 May, SOC, closing
at 3S7sc; June, 40Ac. closing at doc !;
July, 42c, closing at 41ssc; August, 43c,
closing at 4234c. Oats-No. 2 May, 27l2c,
closing at 2Tisc; June. 2S4c, closing at
2Sc; July, 29c, closing at 2Ss4c. Aug
uSt, 21Ac, closing at 27Ac. Mess
pork-per Dbl May, SO, closing ut
SD; June. SD, closing at $40.
Lard-per 100 lbs. May. S6.77I2, closing at
SG.12l2; June, S6.S2l2. closing at St so; July,
S6.95, closing at $500; August, 81,
closing at S6.97I2. Short ribs-per 100 lhs..
May, S7.35, closing at $3.50: June. S7.42l2
closing at S7.35: July, STATE, closing ut
S1.45; August, S7.55, closing at S7.52l2.
Cash Quotations were as follows; Flour
No. = String, s4$S@ s4l2c; No. 3
2; .39lsc. oats-No. 2. 274c. Rye-No. 2
Ste. Barley-No. ., SIC Flax Seed-No.
!. Sis. Prime timothy seed, Sill.
Mess pork. per Dbl, S23.OO. Lard, per
100 lbs, S6.75. Short rib sides, loose,
S1.30@7.35; dry sailed shoulders, boxed,
s.. 65M5.70: short clear sides, boxed. S775
@7,sO: Whsky-Distillers' finished goods,
per gal, Sl.l0. Sugars-Cut loaf, 6A@6as !;
granulated, Sc: standard \, 5asc. Receipts
Flour, $4,000 bbls; wheat, 60, 900 bu: corn,
$4,000 bu: oats, 81 900 bu; rye, $4,000 bu !;
barley, 10000 bu. Shipments-Flour, 10
600 bhls: wheat, $4,000 bu: corn, 81 600
bu; oats, 10000 bu; barley, 5000 bu On
The produce exchange to-day the butter mar
ket there was fair demand: creamery,
!l2@ 2ll2c; dairy l5l2920c. Eggs, 1Ol2I